Home / Knowledge / News / Textiles / Abu Dhabi Basic Industries form JV with leading technical textiles maker
Abu Dhabi Basic Industries form JV with leading technical textiles maker
15
Apr '08
Low & Bonar PLC and Abu Dhabi Basic Industries Corporation (“ADBIC”), announce that they have established a joint venture company that will produce artificial grass yarns and other yarns. The joint venture is being established through a wholly-owned subsidiary of Low & Bonar and the Group will have a 75% economic share and operational control of the venture.

Artificial grass yarn is one of the fastest growing product segments within Low & Bonar's Technical Textiles business, showing growth rates of over 15% per year. This strong growth is driven by the increased use of artificial turf for sports pitches and the rapid expansion of use for landscaping due to environmental restrictions on water use.

The joint venture company will build a new manufacturing plant in the Abu Dhabi Polymers Park, an industry-specific economic zone being established by ADBIC in Abu Dhabi, and production is expected to start in 2009. The new facility will complement Low and Bonar's existing manufacturing plants in Scotland, Belgium and China and will provide further capacity to support the anticipated growth in artificial grass yarns. The transaction will also allow the Group to benefit from additional sources of its principal raw materials and from ready access to new markets in the Gulf and Middle East region.

The total initial investment in the joint venture to establish its business and production facilities is estimated at US$25 million. Low & Bonar's committed contribution in 2008 to the venture will amount to US$6 million, payable in cash. The joint venture will manufacture products which are already part of Low & Bonar's portfolio and will distribute these products exclusively through the Group's existing sales and distribution infrastructure.


Must ReadView All

Gujarat finance minister Nitin Patel. Courtesy: Global Gujarat News

Textiles | On 22nd Feb 2018

Rs843 cr for MSMEs, Rs35 cr for khadi in Gujarat budget

The Gujarat government has made a provision of Rs 843 crore in the...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Indian e-retail market may see 250% growth in 3 yrs: Crisil

Apparel/Garments | On 22nd Feb 2018

Indian e-retail market may see 250% growth in 3 yrs: Crisil

India’s e-retail market may rise by 250 per cent in the next three...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Urmil Arya

Sushila International, a well established textile organisation established ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search